Fortive Co. (NYSE:FTV) Shares Acquired by Fiduciary Trust Co

Fiduciary Trust Co grew its position in Fortive Co. (NYSE:FTV) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,770 shares of the technology company’s stock after buying an additional 250 shares during the quarter. Fiduciary Trust Co’s holdings in Fortive were worth $433,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. grew its stake in shares of Fortive by 2.7% in the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company’s stock valued at $32,052,000 after buying an additional 10,795 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Fortive by 26.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,502 shares of the technology company’s stock worth $2,832,000 after purchasing an additional 7,829 shares in the last quarter. Asahi Life Asset Management CO. LTD. acquired a new position in Fortive during the 4th quarter worth $358,000. Czech National Bank grew its stake in Fortive by 5.3% during the 4th quarter. Czech National Bank now owns 75,186 shares of the technology company’s stock worth $5,639,000 after purchasing an additional 3,818 shares in the last quarter. Finally, Benson Investment Management Company Inc. acquired a new position in Fortive during the 4th quarter worth $5,140,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FTV has been the subject of several analyst reports. Barclays lowered their target price on Fortive from $85.00 to $84.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Robert W. Baird lowered their price objective on Fortive from $88.00 to $82.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Citigroup lowered their price objective on Fortive from $84.00 to $69.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. lowered their price objective on Fortive from $90.00 to $73.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, Royal Bank of Canada upped their price objective on Fortive from $68.00 to $72.00 and gave the stock a “sector perform” rating in a research report on Friday, May 2nd. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Fortive currently has a consensus rating of “Moderate Buy” and an average price target of $80.85.

Fortive Stock Performance

NYSE FTV opened at $70.45 on Monday. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $70.07 and its two-hundred day moving average is $74.91. Fortive Co. has a 12-month low of $60.39 and a 12-month high of $83.32. The stock has a market capitalization of $23.94 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 2.68 and a beta of 1.10.

Fortive (NYSE:FTV) last released its earnings results on Thursday, May 1st. The technology company reported $0.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.85. Fortive had a return on equity of 13.15% and a net margin of 13.36%. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the firm posted $0.83 EPS. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. Research analysts expect that Fortive Co. will post 4.05 EPS for the current year.

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Wednesday, April 30th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, May 30th. Fortive’s dividend payout ratio is currently 14.04%.

Insider Buying and Selling

In other Fortive news, SVP Stacey A. Walker sold 5,688 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $80.52, for a total transaction of $457,997.76. Following the sale, the senior vice president now owns 47,141 shares in the company, valued at approximately $3,795,793.32. This represents a 10.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James A. Lico sold 196,117 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $80.38, for a total value of $15,763,884.46. Following the sale, the chief executive officer now owns 528,851 shares in the company, valued at approximately $42,509,043.38. This trade represents a 27.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 243,385 shares of company stock worth $19,508,529 in the last quarter. Company insiders own 1.01% of the company’s stock.

Fortive Profile

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.